Even though there is a bit of a premium, I hope it doesn't go through.
I have held PSE since the beginning and collected several years of distributions.
Will have to pay all the deferred tax if taken out by a c-corp.
I agree -- off-hand I would say my tax hit will be more than the $5/shr premium, plus I need to replace the income. I was looking forward to distribution growth next year, apparently so is PXD. Maybe the BOD will throw us a bone and raise another dollar or two for appearance sake, since all they're doing is issuing a couple more shares of stock but I don't expect more.
I suspect you have done very well here.
The GP clause in the partnership agreement makes it very unlikely that there could be any pressure to raise the price. That securities law firm is just fishing for a little cash payoff.
Pioneer is making a good call as the assets are worth more than they are paying or the market willing to give stand alone PSE.
If you do not mind holding PXD it is not as good as owning PSE for income but is not an unfair swap.